Piedmont exploration news
Piedmont Reports Drilling to Begin at Willow Creek Gold Project, Nevada
RENO, Nev., Sep 04, 2008 (BUSINESS WIRE) --
Piedmont Mining Company, Inc. (OTC BB: PIED) today reported that drilling is scheduled to begin at the Willow Creek gold project in Elko County, Nevada early next week. This initial drill program of approximately 5,000 feet will consist of 5 or 6 angled reverse circulation drill holes, each to approximately 1,000 ft. This drill program is fully funded.
The Willow Creek property consists of 480 acres of private fee land plus 158 lode claims, for a total of almost 6 square miles along the western range front of the Snake Mountains and about 30 air miles north-northwest of the town of Wells. It covers about 5 miles of strike length along the famous Roberts Mountain Thrust, a regional geologic break that is associated with many of the gold deposits in Nevada. Favorable stratigraphy and rock types are exposed at the surface and are extensively altered. Strong and coincident patterns of arsenic, antimony, thallium and mercury anomalies with anomalous gold values are controlled by structure and alteration and help to define drill targets. The geochemical patterns are typical of Carlin-style gold orebodies. Felsic and lamprophyre dikes have been mapped in several areas of the property. The 42 million year (Eocene) age of a felsic dike on the property is encouraging since it is similar to the age of the intrusives and mineralization in the main Carlin-style gold orebodies in Nevada.
Piedmont is working on this project with Carlin Gold US Inc., the wholly owned U.S. subsidiary of Carlin Gold Corporation (TSXV: CGD). Carlin Gold holds the property and is managing the exploration program while Piedmont is earning into a 51% interest by funding the exploration.
Piedmont is an exploration-stage company, exploring for gold and silver in Nevada. It has entered into agreements with experienced and respected exploration groups on 7 properties in Nevada. It participates through funding exploration costs utilizing highly skilled people only on an as needed basis thus minimizing G&A costs. It can drop properties that don't meet expectations. The Company's Common Stock is traded on the OTC Bulletin Board under the symbol: PIED.
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. and are based on current expectations. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements that involve risks difficult to evaluate. Actual results can vary due to many factors such as changes in metal prices, business conditions, the competitive environment, laws and regulations; problems encountered in exploration and obtaining permits; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
SOURCE: Piedmont Mining Company, Inc.
Piedmont Mining Company, Inc. Robert M. Shields, Jr., 212-734-9848 or
Investor Relations: Maria Da Silva, 877-261-4466 www.piedmontmining.com
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